Freeserve beefs up IR to reassure investors

Internet service provider Freeserve is creating an in-house investor relations department in a bid to build stronger ties with investors, the City and the financial press.

Internet service provider Freeserve is creating an in-house

investor relations department in a bid to build stronger ties with

investors, the City and the financial press.



Freeserve is the largest ISP to have floated on the London Stock

Exchange.



Since its summer flotation, share have fallen below what they were

originally offered at, because the market has become nervous about the

profitability of the internet sector.



As a result of its fluctuating share price, Freeserve, which is part of

the Dixons Group, made the decision to appoint an IR director and

another member of staff to build confidence with investors.



Freeserve is keen to make appointments within the next five weeks. In

the meantime, its financial PR agency Citigate Dewe Rogerson has

seconded manager Elena Shalneva to help set-up the IR department and

oversee its first financial results announcement next Tuesday.



Shalneva said: ’Freeserve is taking IR and communications very

seriously. It is looking for very senior qualified people.’



In advance of Freeserve’s results, Citigate has been confirmed as its

financial PR agency. The internet provider is believed to have talked to

the Maitland Consultancy, the Hogarth Partnership and Finsbury, before

reappointing Citigate.



The agency was originally appointed on a short term retainer in May (PR

Week, 21 May) to handle PR work surrounding the flotation.



Lesley Smith, corporate affairs director for Dixons Group, said:

’Citigate Dewe Rogerson was originally appointed for the duration of the

flotation, however it has now been appointed to handle on-going

financial PR.’



Once appointed the director of investor relations will report directly

to Nicholas Backhouse, the chief financial officer for Freeserve, and

will work alongside Smith.



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